After numerous attempts at fixing the thing I finally managed to do it on my WIndows 7 64-bit PC. Might as well share my experience with you guys.

First I was getting a Bioshock.exe error from Steam. I did what they suggested and set Bioshock.exe to run in compatibility mode with Windows 2000.

Then I ran into the "Application is already running" issue. For this I did what they said and disabled the tablet pc feature, here's how to do it:

1) Open Control Panel.2) Open Programs and Features.3) On the Programs and Features window, look on the left and click on the link that says "Turn Windows Features On or Off"4) In this new window, uncheck the feature called "Tablet PC Components"5) Reboot your computer.

After this I disabled the unused audio devices. I was getting sound, but a black screen. I did the black screen fix posted here and I'm already in the bathysphere on my way to Rapture :)

hey I couldn't find the Stereo Mixer On recording Section, when I right click and show disable devices, I still couldn't find it, Im using headset btw, All Im seeing are Mircophone Twice and Line In , only 3 option

Hello everyone. And I suppose this is the proper place to ask for help on the sound issue. I ahve a similar problem as JadeStalker with the "Stereo Mix" not showing, and there is not any devices inside that box. I have no clue as to what the problem maybe and I'm not computer savvy. And if it helps I play on a television screen.

Hello everyone, i got a bit of a problem, when i done all that thing u needed to do for getting the sound to work, it dosent work my stereo mix showed up for me but when i activated it i didnt get any sound to the game i dont know why someone know how to fix it?